<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the Form 10-Q for the three months ended March 31, 1999 and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> MAR-31-1999 <CASH> 4,252 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 1,413,768 <DEPRECIATION> 200,389 <TOTAL-ASSETS> 1,448,314 <CURRENT-LIABILITIES> 0 <BONDS> 679,360 <PREFERRED-MANDATORY> 0 <PREFERRED> 187,847 <COMMON> 31,040 <OTHER-SE> 372,160 <TOTAL-LIABILITY-AND-EQUITY> 1,448,314 <SALES> 0 <TOTAL-REVENUES> 49,621 <CGS> 0 <TOTAL-COSTS> 11,617 <OTHER-EXPENSES> 6,266 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 12,360 <INCOME-PRETAX> 19,378 <INCOME-TAX> 0 <INCOME-CONTINUING> 19,378 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 19,378 <EPS-PRIMARY> 0.49 <EPS-DILUTED> 0.49